Marketing PlansPart 1

Marketing Plan tells you:• What economic/business environment are you

experiencing?• What opportunities/problems are your facing?• Who are your customers?• Why should they buy from you?• How will you communicate with them about

your product?• How are you going to measure your success?

Marketing Template

• Profile of business and SWOT• Target customer profiles• Marketing tactics• Executive summary

See pages 27-29 in the textReview template in Class Materials

Developing a SWOT

• Strengths=internal to company• Weaknesses=internal to company• Opportunities=in the marketplace for your

company• Threats=to your company in the marketplace

SWOT Analysis

Internal Strengths Internal Weaknesses

External Opportunities External Threats

Strengths and Weaknesses--internal

• Organizational--reputation, length of time in business, employees, sales force, leadership

• Financial--stability, sales• Marketing--strength/diversity of customer

base, market share, product/service performance, product mix

Opportunities and Threats--external

• Capitalize on opportunities--use current or potential capabilities

• Address threats--challenge to current market position

• Possible O or T--customers, pricing constraints, competitors, distribution issues, technology, regulations, suppliers, etc.

• Include demographic info from Census data• Use handout to construct SWOT for your

business

SWOT Business Research Sources U.S. Census--Population

• 2000 household census (www.census.gov)• 2010 census—new info coming out now• http://factfinder.census.gov • State and county quick facts

http://quickfacts.census.gov/qfd/index.html

Secondary Research Sources for Your SWOT

• Federal, State, County, local governments– U.S. Commerce Department– State economic development agencies

• U.S. Census (2010) for your location • Chamber of Commerce—local• Local business publications/newspapers• Trade and industry associations (for your company)• Your hometown website

U.S. Census-Business

•www.census.gov•Business and government•Economic fact sheet•Economic fact sheet for an industry•Videos posted

SAMPLE SWOT AnalysisInternal Strengths

Community based businessTrust and reliabilityBonded and insuredProfessional appearance of staffExceptional customer service

Internal Weaknesses

Smaller sized business unable to accommodate larger projectsPotential injury to owner or staffLimited to time-no residual incomeDifficult to take time off from businessPhysically demanding work

External Opportunities

High level of vacant or foreclosed homesLack of reliable service companiesGrowing size of communityRetirement community in need of servicesExisting relationships with local Realtors

External Threats

Unlicensed companies driving prices downUndocumented workers being paid less by some companiesSlow or nonpayment of home owners or banksEconomic uncertainty resulting in homeowners caring for homesRising cost of insurance

SAMPLE SWOT

Internal StrengthsVery low overhead – just need a vehicle and scooper.Little expertise or knowledge required – picking up waste takes no experience at all.Management has over 15 year’s customer service background.No building is neededInexpensive advertising costs – Flyers and very cheap to print      

Internal WeaknessesLimited Area. This type of service is considered a luxury, only a few areas in Phoenix are available, like Scottsdale.Limited Advertising available - Limited to Flyers and word of mouthNo reputation or market presencePrices may be too low at startup.Limited marketing experience  

External OpportunitiesVery few competitorsCan add extra services such as dog walking, carpet spot cleaning.The average pet “goes” 23 times per week.Close to 40% of US households own at least one pet.The APPMA reports that in 2007, US consumers spent $41.2 billion on pets, and projects 2008 spending at $43.3 billion      

External ThreatsGas PricesCompetitors have been established and have a reputation.The Economy – This service is a luxuryDog Parks – Weekly visits may be limited if more dog parks are constructedCompetitor has market presence    

    

Competitors

• Develop 3 for your product• Use competitor sheet provided

Competitive Analysis Worksheet

Questions?

Email instructor with questions